Bloomberg Tax
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Tax
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

Global Crypto Tax Standards Near With G20 Support (Podcast)

Nov. 17, 2022, 9:45 AM

Calls for regulation and global standards for the cryptocurrency industry have taken on fresh urgency recently, with the stunning collapse of Sam Bankman-Fried’s FTX exchange and its sister trading house Alameda Research.

Listen here and subscribe to Talking Tax on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Megaphone, or Audible.

One important regulatory proposal already in progress is the Organization for Economic Cooperation and Development’s Crypto Asset Reporting Framework—CARF—which would standardize how global tax authorities regulate and share information on cryptocurrency assets and still give nations significant leeway to set their own rules. The G20 endorsed the OECD’s crypto plan at its October finance minsters meeting.

On this episode of our weekly podcast, Talking Tax, Bloomberg Tax correspondent Shaun Courtney speaks with the OECD Center for Tax Policy and Administration’s Paul Hondius and Artur Olszewski about the crypto framework. Hondius and Olszewski talk about what the new framework does and doesn’t do, how it meets the needs of tax administrations, and expectations for implementation of the standards among G20 nations—which includes the US. They also offer an update on the organization’s timeline for creating legal and IT solutions to help countries with implementation and global information sharing.

Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.

To contact the reporter on this story: Shaun Courtney in Paris at correspondents@bloomberglaw.com

To contact the editors responsible for this story: Rachael Daigle at rdaigle@bloombergindustry.com; David Jolly at djolly@bloombergindustry.com